Merrill Lynch has appointed James Chapman as director and head of Asia power investment banking along with a five-member team, all previously from Lehman Brothers.
James and team will bring significant advisory and capital markets experience within the Asia power industry to Merrill Lynch. James has worked in the industry for the past 14 years during which time he has developed close relationships with power clients globally. At Lehman Brothers, James was also responsible for supporting the sourcing and execution of interest rate, FX and commodities hedging and other risk management solutions across power sector clients. James will report to Naomi Molson.
The other recruitments include, Anoop Chaudhry, who joins as a vice president, a position he also held at Lehman Brothers. Anoop has also worked at Credit Suisse in Hong Kong and Arthur Andersen in Sydney. Ken Ng joins as a vice president. In addition to Lehman Brothers, he has also worked in the structured finance and leveraged finance divisions at Sumitomo Mitsui Banking Corp and Deutsche Bank, respectively.
Raymond Yu and Robert Smith join as associates, while Brian Kelly joins as an analyst.
As Merrill in Asia builds up post its announcement of a merger with Bank of America, HSBC announced late last week that it is cutting 1,100 jobs in its global banking and markets division, which is about 4% of HSBC?s wholesale banking workforce worldwide. Approximately 100 of the disappearing jobs are in Hong Kong, mainly in back-office operations.
